Dubai market weak ahead of FOMC meeting

10 August 2010

The DFM Index started flat and eventually lost 0.35%, closing at 1,496.12 points. 61.6m shares changed hands, 18% less than on Monday as global capital markets wait for the outcome fo the U. S. Federal Open Market Committee (FOMC) on Tuesday evening. Arabtec (down 1.18% at Dhs1.68) was the most liquid stock. Bahrain's Islamic investment bank Gulf Finance House (GFH) surged 3.65% to Dhs0.539. GFH announced today it has reached formal agreement with the WestLB syndicate for a new $100m Murabaha Facility Agreement. The agreement is for a two year period with an additional one year term at GFH's option i.e. up to three years in total at a reduced profit rate

A MEED Subscription...

Subscribe or upgrade your current package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications